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these questions QUESTION 29 You are given the cost and volume information below: Volume Cost 1 unit $ 15 10 units 150 100 units 1500
these questions QUESTION 29 You are given the cost and volume information below: Volume Cost 1 unit $ 15 10 units 150 100 units 1500 What type of a cost is given? A. fixed cost B. variable cost C. margin cost D. none of the listed choices E. an operating expense cost QUESTION 30 Drew Corp had a beginning balance on January 1, 2019 in Accounts Receivable of $200,000 and a beginning credit balance in the Allowance for Doubtful Accounts of $4,000. During 2019, Drew sold $1,000,000 of goods on credit and collected $800,000 If Drew estimates that 2% of their ending accounts receivable will eventually not be collected, the adjusting journal entry for the Bad Debt Expense will include a credit to Allowance for Doubtful Accounts of OA. $ 6,980 OB. none of the listed choices OC. $ 16,000 OD. $ 8,000 O E. $ 4,000 QUESTION 31 Still on Drew, everything is the same except during the year, the company wrote of $2,000 in bad debts. Drew's ending balance in the allowance for doubtful accounts, under this scenario, would be: OA. $ 7,960 B. $ 4,000 C. $ 16,000 D. none of the listed choices E. $ 6,960 QUESTION 32 On January 1, 2019, Declan Diaper Co. declared a $2.00 per share dividend payable on February 1, to holders of record on January 15. Before the dividend was declared, the company had 200,000 shares of $10 par value stock outstanding. On the date of payment, the journal entry would include a O A. There would be no journal entry on this date. B. a credit to Cash of $ 400,000. C. a debit to Retained Earnings of $ 400,000. D. a credit to Retained Earnings of $ 400,000. E a credit to Dividends Payable of $ 400,000 QUESTION 33 A 7-year, $1,000,000 zero coupon bond is priced to yield 8%. The amount the issuing company will receive when it is issued is: A $ 547,034.24 B. $ 583,490.40 C. $ 1,000,000.00 D. $ 543,933.74 E none of the listed choices
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